Premium payment failed

Action:Contact the insurance company or agent immediately.

Confirm:

  • Amount due
  • Grace-period expiration
  • Payment method
  • Policy status

Do not assume coverage remains active indefinitely.

Policy lapsed

Action:Ask whether reinstatement is available.

The carrier may require payment and updated underwriting information.

Want to replace an old policy

Action:Do not cancel the old coverage first.

Complete underwriting and review the new policy before terminating existing coverage.

Beneficiary needs to be changed

Action:Request the insurance company's beneficiary-change form.

Keep confirmation of the completed change.

Policy owner changed address

Action:Update the address with the insurance company.

Important notices may include:

  • Premium notices
  • Grace-period notices
  • Annual statements
  • Policy changes

Bank account or credit card changed

Action:Update automatic payment information before the next premium due date.

A failed automatic payment can eventually result in policy lapse.

Received a life insurance claim denial

Action:Request the reason for the decision in writing.

Review:

  • Policy provisions
  • Application
  • Contestability issues
  • Exclusions
  • Claim documentation

Consumers may also contact the Illinois Department of Insurance regarding complaints or questions.

Read more:Illinois Department of Insurance — File a Complaint

Cannot locate a deceased person's policy

Action:Check:

  • Bank statements
  • Email
  • Tax documents
  • Employer benefits
  • Insurance agent records
  • Safe deposit box
  • Mail

You can also use the NAIC Life Insurance Policy Locator.

Read more:NAIC Life Insurance Policy Locator